Probiotec Limited (ASX:PBP) has entered into a conditional binding agreement with Beston Global Food Company for the proposed $7 million sale of its ADP protein plant located in Jervois, South Australia.
This includes provisions for Probiotec to obtain an ongoing supply of immunoglobulins produced by the ADP plant.
The proposed sale is subject to completion of due diligence and is expected to be completed by 30th September 2015.
Probiotec is a brand owner, manufacturer, marketer and distributor of a range of prescription and over-the-counter pharmaceuticals, complementary medicines and specialty ingredients.
It owns four manufacturing facilities in Australia and distributes its products both domestically and internationally.
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